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SAIL Expects Steel Prices to Soften

NEW DELHI -- State-run Steel Authority of India Ltd. expects steel prices to soften further as new contracts for raw materials are finalized at lower prices, the chairman said Thursday.

India's top steelmaker by local capacity is seeing a revival in local demand and expects to post positive sales growth in the first quarter of the next fiscal year, S.K. Roongta said in an interview to the CNBC TV18 channel.